BitThink
Legendary
Activity: 882
Merit: 1000
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August 24, 2015, 10:28:43 AM |
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I'm glad I moved everything I had off Bitfinex before this downtime and the flash crash before it. I'm annoyed I missed a chance for cheap coins during the flash crash, but relieved my coins aren't stuck on Bitfinex now. I was toying with the idea of moving my coins back to Bitfinex in case there was another flash crash. Thankfully I never did it. will there be another crash if/when Bitfinex starts trading again?
What's the usage of coins during a flash crash? |
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LMGTFY
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August 24, 2015, 10:34:30 AM |
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I'm glad I moved everything I had off Bitfinex before this downtime and the flash crash before it. I'm annoyed I missed a chance for cheap coins during the flash crash, but relieved my coins aren't stuck on Bitfinex now. I was toying with the idea of moving my coins back to Bitfinex in case there was another flash crash. Thankfully I never did it. will there be another crash if/when Bitfinex starts trading again?
What's the usage of coins during a flash crash? As price shoots down, demand for BTC to short rises. The swap rate will likely skyrocket - typically it's 0.0055% (daily), it went up to 0.0165% a week ago and then came down almost as fast as it went up. In the past we've seen peak rates as high as 0.4%, but the long-term trend seems to be for the peaks to be lower. Edit: it's probably much clearer visually! https://bfxdata.com/swaphistory/btc <- look at the "FRR" rate on the bottom graph, particularly on 12-month or all time. |
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rebuilder
Legendary
Activity: 1615
Merit: 1000
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August 24, 2015, 10:39:17 AM |
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As price shoots down, demand for BTC to short rises. The swap rate will likely skyrocket - typically it's 0.0055% (daily), it went up to 0.0165% a week ago and then came down almost as fast as it went up. In the past we've seen peak rates as high as 0.4%, but the long-term trend seems to be for the peaks to be lower.
The interest rate on USD has historically been considerably higher, though. If you're going to risk your funds by keeping them on an exchange, maybe selling for USD and lending it out is the better bet? |
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Fatman3001
Legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
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August 24, 2015, 10:42:25 AM |
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bitcoin will be up with XT or without XT
Mmm... or not? Bitcoin price tanked. That is a fact. People have voted against XT alt coin fork with their bitcoin wallets. I guess Core wasn't able to formulate an adequate response then. Perhaps the problem is that Bitcoin has some leadership issues. |
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LMGTFY
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August 24, 2015, 10:52:28 AM |
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As price shoots down, demand for BTC to short rises. The swap rate will likely skyrocket - typically it's 0.0055% (daily), it went up to 0.0165% a week ago and then came down almost as fast as it went up. In the past we've seen peak rates as high as 0.4%, but the long-term trend seems to be for the peaks to be lower.
The interest rate on USD has historically been considerably higher, though. If you're going to risk your funds by keeping them on an exchange, maybe selling for USD and lending it out is the better bet? I don't know how people use swaps in general ***, but for me I don't tend to keep my money on exchange. I use swaps when the rate makes it worth the risk I'm taking, which is only really when the rate spikes. At that point I'll pile in that part of my BTC I've set aside for this (an amount I can afford to lose if the worst happened) and try and get the highest rates I can for as long as possible. Most of the swaps will be closed pretty quickly, and unless rates remain high that's the point I move BTC back to my wallet. (This is BTC that - when it's not out on swaps - I'll use for speculation). My native currency isn't USD, so I'm less inclined to sit with USD (I'm long-term bullish on BTC), and I've not really followed the USD swaps market, but the risk for me would be that BTC/USD rises - leaving me with USD I don't need instead of BTC! It makes my position much more complex - instead of going long on BTC and taking advantage of shorts, I'd be shorting BTC and then lending USD to people with the same outlook as me. That seems way too risky, even with a higher swap rate. Edit: *** I'm fairly certain I do know how most people use swaps - they pile everything into the FRR and hope they get lucky. |
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Norway
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August 24, 2015, 11:01:48 AM |
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 "All these negative waves man..."I'm bullish as fuck! |
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ChartBuddy
Legendary
Activity: 2898
Merit: 2496
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 24, 2015, 11:02:39 AM |
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becoin
Legendary
Activity: 3431
Merit: 1233
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August 24, 2015, 11:06:34 AM |
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Perhaps the problem is that Bitcoin has some leadership issues. Perhaps the problem is that Bitcoin under the leadership of government-centric Mike Hearn is the worst possible scenario for the bitcoin community? |
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Fatman3001
Legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
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August 24, 2015, 11:09:11 AM |
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Perhaps the problem is that Bitcoin has some leadership issues. Perhaps the problem is that Bitcoin under the leadership of government-centric Mike Hearn is the worst possible scenario for the bitcoin community? Perhaps, but it takes quite a bit of incompetence to lose the status core has. |
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LFC_Bitcoin
Diamond Hands
Legendary
Activity: 4256
Merit: 12792
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August 24, 2015, 11:16:31 AM |
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Had a few days away due to being a bit fed up of reading all of the FUD & trolling. I see the price hasn't recovered yet. Are you guys accumulating now? I bought another 2 bitcoin yesterday to HODL. Will buy again Friday on payday.
Any predictions on which way the price will go next? I've now conceded sub 200 coins could be a real possibility.
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becoin
Legendary
Activity: 3431
Merit: 1233
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August 24, 2015, 11:16:50 AM |
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Perhaps the problem is that Bitcoin has some leadership issues. Perhaps the problem is that Bitcoin under the leadership of government-centric Mike Hearn is the worst possible scenario for the bitcoin community? Perhaps, but it takes quite a bit of incompetence to lose the status core has. Core without government tools like Mike and Gavin is a much better team with much better status. |
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ImI
Legendary
Activity: 1946
Merit: 1019
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August 24, 2015, 11:17:10 AM |
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sub 200 means 170
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BldSwtTrs
Legendary
Activity: 861
Merit: 1010
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August 24, 2015, 11:21:41 AM |
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Is it possible to cancel orders on Finex now?
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Norway
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August 24, 2015, 11:26:51 AM |
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Perhaps the problem is that Bitcoin has some leadership issues. Perhaps the problem is that Bitcoin under the leadership of government-centric Mike Hearn is the worst possible scenario for the bitcoin community? Perhaps, but it takes quite a bit of incompetence to lose the status core has. Well put, fellow viking. 1 mb every 10 minutes is considered a lot of data? Seriously???!!!! (Many web pages are 3-4 mb!) AFAIK, XT side use forks, new forums and detailed arguments. Core side use "Do nothing", sensorship and personal attacks. Many big actors are very clear about their support of an increased blocksize, but still reluctant in the XT issue. Seems to me that it's only the Blockstream team + Peter Todd in favour of restraining bitcoin to 7 transactions per second. (Maybe some big banks, Mastercard, Visa, Western Union and governments want that limit too, but they don't say it out loud in public. Even 21 inc could be a 1 mb supporter to make mining more toaster friendly, lol!) |
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Fatman3001
Legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
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August 24, 2015, 11:38:50 AM |
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 Finex is worrying me |
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ImI
Legendary
Activity: 1946
Merit: 1019
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August 24, 2015, 11:41:50 AM |
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why?
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Norway
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August 24, 2015, 11:44:03 AM |
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Finex is worrying me Relax. These guys are starting a new one soon:  |
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Norway
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August 24, 2015, 11:55:46 AM |
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Good concept, trading stocks for bitcoin. But it's hard to trust you and the site because you are a completely newbie telling people to send their bitcoins to a site nobody has heard about before. High scam probability factor... |
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ChartBuddy
Legendary
Activity: 2898
Merit: 2496
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 24, 2015, 12:02:25 PM |
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dEBRUYNE
Legendary
Activity: 2268
Merit: 1141
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August 24, 2015, 12:12:31 PM |
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Good concept, trading stocks for bitcoin. But it's hard to trust you and the site because you are a completely newbie telling people to send their bitcoins to a site nobody has heard about before. High scam probability factor... 1broker is the only kinda trustworthy bitcoin only broker... Unlike the Simplefx broker which is like 3-4 months old. 1broker was around even before the 1000$ bitcoin bubble... I am pretty sure there are several people here trading on 1broker for quiet some time. The UI is pretty nice, easy to understand and works like a charm. Didn't expierence lag when trading (although I only made a few trades). Furthermore, they have their own topic over here which excists since 2012 -> https://bitcointalk.org/index.php?topic=123492.new#new |
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Poll
